Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
Economy
Economy
Thousands join Hungary teacher rebellion over ‘humiliating’ pay
With supermarket cashiers paid more than most teachers, thousands have joined the protests since the beginning of September, with human...
- Hungary is already in the grip of a chronic teacher shortage, with few young people joining the profession and 40 percent of teachers aged over 50.
- According to the EU, the centralised management of schools also leaves school directors with limited autonomy to improve teaching quality, further eroding morale.
Market Report
Pound sinks against dollar on UK political uncertainty
The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while...
- The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes.
- Traders were girding for another possible intervention by Tokyo after the dollar went above 150 yen.
Business
UAE-UK Business Council to promote trade, investment
The UAE-UK Business Council hosted its 20th Plenary Meeting in Abu Dhabi, co-chaired by Ahmed Al Sayegh, Minister of State,...
- A new project on opportunities for UK-UAE collaboration on the decarbonization of the built environment was also announced.
- The Business Council announced it will support the Cherie Blair Foundation for Women.
Geostrategy
Shortest-serving PM in history leaves scars on the economy
The crisis-hit PM, elected Conservative leader just six weeks ago on a tax-slashing platform, announced her resignation Thursday. Her budget,...
- The measures triggered a loss of confidence on markets, sparking the downfall of the 47-year-old Oxford-born politician
- Investors also felt the budget splurge was in opposition to the BoE's recent interest rate hikes which sought to bring down runaway inflation
Economy
EU agrees ‘roadmap’ to contain energy prices
The summit agreement set out a "solid roadmap to keep on working on the topic of energy prices", European Commission chief...
- The accord came after 11 hours of wrangling over broad proposals to lower energy bills as gas prices pushed skywards by the war in Ukraine
- The bloc's 27 member states have been squabbling for months over which joint initiatives to adopt, riven by the fact that energy mixes in the countries vary greatly
Business
Nokia Q3 profit at $419m
The Finnish company reports net sales of $6billion.
- Finn company Nokia reported a 22-percent rise in profit to $419 million
- Nokia CEO Pekka Lundmark said the quarter demonstrated that he was delivering on the ambition to accelerate growth.
Business
Ericsson Q3 profit at $480m
Firm is making 'pricing adjustments' as inflation soars.
- Ericsson's shares closed down 15 percent on the Stockholm stock exchange.
- The lower profits were partly due to Ericsson's $6.2 billion acquisition of US cloud communications company Vonage.
Economy
Dubai to host 3 healthcare events next week
The United Arab Emirates is set to host three healthcare events next week in Dubai where over 4,000 healthcare professionals...
- Over 4,000 healthcare professionals and participants are expected to attend.
- Around 140 expert speakers will deliver 110 scientific sessions and over 40 participating countries will also be present.
Economy
Turkey’s central bank reduces policy rate for third month
The decision comes right after President Recep Tayyip Erdogan said the central bank would keep cutting rates every month for...
- The Turkish central bank said it was cutting its one-week repo rate to 10.5 percent from 12 percent
- President Erdogan wants interest rates to lower down to single digits by the end of the year
Business
Aramco launches Taleed program to accelerate SMEs growth in Saudi
Riyadh, Saudi Arabia--Aramco said on Thursday it has launched Taleed program to accelerate the growth of Small and Medium Enterprises...
- Aramco said the program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives.
- It also aims to deliver funding and financial solutions to existing and new businesses through five funds, with a combined capital exceeding $800 million.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
Company News
Latest News
At least 30% of all housing units in Gaza destroyed or damaged: UN
Geneva, Switzerland - At least 30% of the housing sector in the Gaza Strip has been either destroyed or rendered...
Geostrategy
Key events reinforce UAE’s position as business hub
"Hosting global events serve as crucial platforms, uniting experts and specialists from diverse sectors. They offer opportunities for communication, opinion...
Economy
Egypt ‘clearing path for Gaza aid’: security source, witnesses
The UN has described the situation inside Gaza as "beyond catastrophic" as Israel pounds the enclave from the air in...
Most Read
Economy
Tourism prowess makes Riyadh top World Expo choice
As Riyadh vies to host 2030 World Expo, the city offers a perfect blend of historical charm and modernity, spotlighting...
- The capital of Saudi Arabia is currently undergoing a transformative journey in tourism, seamlessly blending its historical allure with modern sophistication
- As Riyadh vies to host 2030 World Expo, it's set to showcase its rich history, architectural marvels, diverse culinary offerings, and advanced mobility solutions
Economy
Tourism prowess makes Riyadh top World Expo choice
In its bid to boost tourism, the Saudi capital blends historical charm with modernity, spotlighting its rich heritage, architecture, cuisine,...
- The capital of Saudi Arabia is currently undergoing a transformative journey in tourism, seamlessly blending its historical allure with modern sophistication
- As Riyadh vies to host 2030 World Expo, it's set to showcase its rich history, architectural marvels, diverse culinary offerings, and advanced mobility solutions
Economy
Qatar eyes North Field to boost liquefied gas output
Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
- Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial gas reservoir with 50.97trn cubic meters
- The project will raise global LNG by 48 million tons annually, supporting a GDP per capita over $84,000 from $132bn gas exports while producing 40% of new LNG by 2029